SBP injects Rs1.13 trillion

KARACHI: The State Bank of Pakistan (SBP) on Friday injected Rs1.13 trillion into the interbank market in a seven-day reverse repo to ensure liquidity in the banking system.

The central bank injected the amount at 6.04 percent -- slightly above the policy rate.

The overnight rates closed flat at 6.04 percent, unchanged from the previous day's close amid tight liquidity in the interbank market.  Dealers banks were borrowing cash to meet their weekly cash reserves requirement.